transcript
- Slide 1
- The Triumph of Industry 1865-1914
- Slide 2
- Innovation Drives the Nation Patents A grant by the government
to the inventor giving the right to develop and sell inventions
without competition Electricity Created by Thomas Jefferson brought
lighting to homes and businesses, as well as other things. Steel
Industry Bessemer Process purified iron making it stronger.
Bridges, skyscrapers, rail lines.
- Slide 3
- Railroads Time zones were created to maintain schedules.
Automobile First began in 1902
- Slide 4
- The Rise of Big Business The Corporation More than one person
owns the company Raises money by selling stock Layered people
structure For profit or non-profit
- Slide 5
- Gaining Competitive Edge in Business Monopolies When a
corporation tries to gain complete control over a market. Cartels
Businesses come together and agree to limit production to control
prices. Trusts Companies assign their stock to a board of trustees
who combine them into a new corporation and take out the
profits.
- Slide 6
- Vertical Integration Companies that own the complete line of
production. Enables then to control costs and prices. OilOil
companies, both multinational (such as ExxonMobil, Royal Dutch
Shell, ConocoPhillips or BP) and national (e.g. Petronas) often
adopt a vertically integrated structure. This means that they are
active along the entire supply chain from locating crude oil
deposits, drilling and extracting crude, transporting it around the
world, refining it into petroleum products such as petrol/gasoline,
to distributing the fuel to company-owned retail stations, for sale
to consumers.ExxonMobilRoyal Dutch
ShellConocoPhillipsBPPetronascrude oilrefiningpetrol/gasoline
- Slide 7
- Vertical Integration Crude Oil, drilling,
refineriesDistribution channelsRetail store selling gas
- Slide 8
- Horizontal Integration Consolidation of many like businesses to
form one business. Purpose is to increase profits and remove
competition. Expansion via acquisition of a competitor or by adding
outlets to a chain. For example, a book publisher might acquire
another publishing house to increase its stable of editors and
authors or to otherwise enhance its competitiveness.
- Slide 9
- Horizontal Integration WendysMcDonaldsMcWendys
- Slide 10
- The government Imposes Regulations Interstate Commerce Act
(1877) First used to oversee railroads Regulated trade Sherman
Antitrust Act (1890) Outlawed any trust that restrained trade or
commerce. Clayton Antitrust Act (1914) Strengthened the Sherman
Antitrust Act
- Slide 11
- The Organized Labor Movement Factory Work Sweatshops Working
conditions 12 hour days, 6 days a week. Often dangerous places to
work. Children worked (1 in 5, ages 10-16, by 1900) Factory Towns
Had housing, stores and other amenities to keep worker in
debt.
- Slide 12
- Labor Unions Collective bargaining Employees or representatives
negotiating better working conditions Strikes First formed union-
National Trades Union (1834) Knights of Labor (1869) Was for all
workers Mission was to replace capitalism ways Folded after growing
to 700,000 workers
- Slide 13
- AFL (American Federation of Labor) Founded by Samuel Gompers
AFL was a craft union for skilled workers. Women not allowed.
Charges dues and focused on benefits for workers, such as wages,
hours, and conditions.
- Slide 14
- Strikes StrikeCauseEffect Railroad Strikes (1877)Response to
cut in workers wages Set the scene for violent strikes to come.
Haymarket Square (1886)Part of a campaign to achieve an 8 hour work
day Americans became weary of labor unions; the Knight of Labor
were blamed for the riot and membership declined Homestead Strike
(1892)Economic depression led to cuts in steelworkers wages After
losing the standoff, steelworkers unions lost power throughout the
country Pullman Strike (1893)Wags cut without a decrease in the
cost of living in the company town Employers used the courts to
limit the influence of unions.
- Slide 15
- Lasting Effects Strikes and discontent set the tone for the
formation of labor unions in the US. Government becomes more
involved in big business. New laws and regulations are passed.
- Slide 16
- Progressivism Believe that new ideas and honest and efficient
government could be social justice. Came from all groups of people.
Women wanted the vote. Wanted to see the end of corruption and
ineffective government. Others wanted government to regulate big
business, bust trusts, and create more opportunities for small
business. Close the gap between rich and poor.
- Slide 17
- Muckrackers People who wrote about the social, government, and
big business issues. Jacob Riis- photographer Lincoln Steffens-
editor known for uncovering social problems Upton Sinclair-wrote
The Jungle
- Slide 18
- Society Reforms Jane Adams- Settlement House Florence Kelly
Movement to ban child labor 1912 U.S. Childrens Bureau created
Keating-Owens Act also to ban child labor, repealed until 1938.
National American Women Suffrage Association Headed by Carrie Catt
pushed for the vote Improve education Improve working
conditions
- Slide 19
- Reforming government Many cities went to city commissioners to
run things and improve city government Political bosses were being
arrested or removed from office. Elections rules are changed Direct
primaries-the people elect candidates Initiative-people could put
laws on ballots Referendum- people could approve or reject laws
passed by legislators Recall- could remove politicians from
office
- Slide 20
- Theodore Roosevelt (1901-1909) Becomes president after
President McKinely is assassinated. Known as the Square Deal
president. Started to regulate industry and bust trusts
- Slide 21
- Laws that were passed Hepburn Act (1906) Reinforced the ICC and
regulated prices for shipping. Meat Inspection Act (1906)
Processing plants to be inspected Food and Drug Act (1906) Correct
labelling or products National Reclamation Act (1902) Controlled
water rights
- Slide 22
- William H. Taft (1909-1913) Relaxed the rules for corporations
and used the rule of reason which allowed big business monopolies
Undid many of the regulations that Roosevelt had put into place.
Defeats Roosevelt in presidential election and TR doesnt make a
third term.
- Slide 23
- Wilsons presidency (1913-1921) The New Freedom Placed strict
controls over government Lowered tariffs on imports to promote
lower prices The Federal Reserve Act (1913) Placed national banks
under the federal government Sets interest rates Federal Trade
Commission Watched business and its practices
- Slide 24
- Amendments passed 16 th Amendment (1913) Passes to create a
federal income tax ( Underwood Tariff Act) 18 th Amendment (1919)
Banned the sale of alcohol 19 th Amendment (1920) Gave women the
right to vote
- Slide 25
- Progressivism Leaves a Legacy Expanded the role of government
with regulation. A time for massive new legislation More
protections were offered to its citizens. Although not a perfect
solution it at least paved the way for today.